7 in 10 will buy more from organisations committed to protecting customers’ data

Most consumers are concerned about how organisations are using their information.

Organisations who fail to protect the personal data of their consumers are likely to lose to customers, research by OpenText revealed.

According to the research, two in five (39%) consumers will let go of their loyalty to a company and no longer buy or use its products if it failed to protect or leaked their data.

Consumers will also stop buying from companies that fail to respond to a data access request under the Personal Data Protection Act 2012 (PDPA) (35%) and those that share their data with third parties for anything other than its specified purpose. 

In addition, seven in 10 (69%) of consumers said they are willing to pay more to use or buy from organisations committed to protecting their information, and about the same number are willing to pay more for a company or third party to keep their information sage.

This behaviour stems from consumers’ concern about how their data is being managed and protected in the new normal.

Based on the research, nine in 10 (89%) worry more about their data now that organisations operate distributed work models.

Less than one in three (31%) Singaporeans have complete trust in all the organisations they interact with to keep their data safe, while fewer than two in five (39%) trust the ability of some companies.